IEIM401840 - Financial Accounts: Excluded Accounts: Estate Accounts

Financial Accounts: Excluded Accounts: Estate Accounts

An account that is held solely by the estate of a deceased person will not be a financial account where the Financial Institution that maintains the account is in possession of a formal notification of the Account Holder’s death. The formal notification would include a copy of the deceased’s death certificate, a copy of the coroner’s interim certificate or a copy of the deceased’s will. The account must be treated as having the same status as prior to the Account Holder’s death until such documentation has been provided.

Once the documentation has been provided the account is not reportable in the year of the Account Holder’s death or any subsequent year.